China plays unique role at G20 summit

LOS CABOS, Mexico - Chinese President Hu Jintao had played a unique and important role at the G20 summit held in this coastal resort city, Foreign Minister Yang Jiechi said here.

Yang said Tuesday that China has actively taken part in the international community's effort to address the financial crisis.

President Hu has participated in all of the G20 summits over the years and has played an important and constructive role in advancing stability and recovery of the world economy, he said.

Yang made the remarks during an interview with Chinese media at the conclusion of the G20 summit, which was held here on Monday and Tuesday.

Yang said Hu's presence at the summit strongly promoted the common ground and confidence of the international community and added fresh impetus to the recovery and growth of the world economy.

In his speech at the summit, President Hu elaborated on China's stance and propositions. He also exchanged views with the leaders of various countries who attended the gathering.

Hu pointed out that the G20 members have to continue to uphold the spirit of unity and win-win cooperation, work on securing growth, increasing jobs and promoting stability.

He said they also need to advance steady recovery of the world economy, deepen reforms of the international financial system, promote sound growth of international trade, promote development, and advocate sustainable development.

Hu pointed out that the G20 should strengthen macroeconomic policy coordination, and promote progress and innovation in science and technology.

The G20, he said, should also implement the quota and governance reform of the International Monetary Fund (IMF), strengthen international financial supervision, and improve the international monetary system.

At the same time, Hu said, the G20 should oppose all forms of protectionism and continue to push forward the Doha Round negotiations.

In regard to the serious sovereign debt crisis in some European countries, Hu pointed out that since the European Union is the largest economy in the world, maintaining financial stability and economic recovery in the EU is of great significance to realizing recovery and growth of the world economy.

Hu believes that Europe has the wisdom and capacity to overcome its difficulties and maintain economic stability and development. He said China has always supported stability of the euro and Europe's effort for recovery and growth.

He said China is ready to work with the international community to participate in resolving the European debt problem.

European leaders attending the summit thanked China for its confidence in Europe, its support to integration of Europe and its assistance to Europe to overcome difficulties. They said they are willing to make greater efforts to advance Europe-China relations.

As for development, Hu urged the G20 summit to pay attention to the development issue, noting that common growth is the fundamental way to achieve sustainable global advancement.

Hu called for attention to be paid to the spillover effect of relevant countries' counter-crisis policies and measures on developing countries. He urged the international community to take concrete steps and deliver tangible results in promoting the prosperity and progress of developing countries and narrowing the North-South gap.

Hu pointed out that the function of international financial institutions in promoting development and reducing poverty should be enhanced, support to developing countries in conducting external trade should be strengthened, and investment in food security, infrastructure and other development issues should be increased.

He also noted that the G20 should adhere to the principle of common but differentiated responsibilities on the issue of sustainable development and support its members in choosing a sustainable development road that suits their countries' conditions.

On the sidelines of the G20 summit, Hu attended the leaders' meeting of BRICS nations and met with Mexican President Felipe Calderon and Ethiopian Prime Minister Meles Zenawi.

At the BRICS meeting, Hu emphasized that the G20 should fully listen to the opinions of emerging economies and developing countries and safeguard their rights. He called for firm actions on reform in the international financial sector by increasing the representation and the right of speech of emerging economies and developing countries so as to improve global governance.

Leaders of the BRICS nations, including Brazilian President Dilma Rousseff, Russian President Vladimir Putin, Indian Prime Minister Manmohan Singh and South African President Jacob Zuma called for stronger BRICS cooperation on the development issue. The leaders said they should encourage the international community to pay even greater attention to the situation and increase aid for infrastructure development and other issues.

The BRICS leaders' meeting discussed IMF recapitalization, saying that ensuring sufficient capitalization for the organization is conducive to the international community's effort to address major challenges in global economic and financial sectors.

The BRICS nations expressed their willingness to contribute to such efforts. At the same time, the BRICS leaders stressed that the IMF has to fully and timely implement the 2010 plan of quota and governance reform. In a bid to support IMF recapitalization, China decided to contribute 43 billion U.S. dollars.

Calderon said Mexico highly values China's propositions and its role in the world. He said Mexico is ready to coordinate and cooperate with China to jointly safeguard the legitimate rights of emerging economies and developing countries.

Meles expressed appreciation for China's sincere support and assistance to Africa. He said China is a major partner in the continent's process of rejuvenation. He believes that China will play an even greater role in promoting peace, stability and development in Africa.

Hu also met with leaders from the United States, France and Germany on the sidelines of the summit.

A meeting between Hu and U.S. President Barack Obama was their 12th in the past more than three years. Hu emphasized during the meeting with Obama that China and the U.S. should firmly grasp the general orientation of building a cooperative partnership.

He said also that the two countries should also continuously enhance their mutual trust and cooperation, properly address disputes and controversial issues, eliminate disturbances and advance bilateral relations in a sustainable, sound and stable way.

Obama said the United States is ready to strengthen communications, enhance mutual trust and expand cooperation with China so as to explore a new type of relationship between the world's two largest economies.

The meeting between Hu and French President Francois Hollande was the first time they met since the latter was elected president. During the meeting, Hu fully elaborated on China's propositions on bilateral relations. He said the two countries should always adopt a strategic and long-term perspective in developing an all-round strategic partnership.

Hollande said his country attaches great importance to France-China relations. He said the new French government will firmly work on expanding bilateral links.

During a meeting with German Chancellor Angela Merkel, Hu said the two countries should deepen their pragmatic cooperation in order to promote stable growth of their economies.

The two nations, Hu said, also should advance China-Europe cooperation and recovery of the world economy. Merkel said Germany is ready to strengthen consultations between the two governments to enhance cooperation and advance bilateral ties.

Hu's remarks during the summit on the trend of China's economy drew great attention from various parties. Hu emphasized that China's economy is currently remaining stable in general, but is under downward pressure due to the grim and complex external economic environment.

Hu said China will focus on scientific development and accelerate the shift of the growth model by continuing to pursue a proactive fiscal policy and prudent monetary policy. He said China will also strengthen and improve macro economic regulations, vigorously expand domestic demand and better people's livelihoods.

Hu said China is confident in maintaining the sound momentum of economic growth so as to make a contribution to the recovery and growth of the world economy.

Hu left Los Cabos for Beijing on Tuesday after the G20 summit.